National Electric Energy Agency (ANEEL) | Entity with the purpose of regulating and supervising the production, transmission, distribution and trading of electricity, in compliance with the policies and guidelines of the federal government.
National Agency of Petroleum, Natural Gas, and Biofuels (ANP) | Agency with the purpose of promoting the regulation, contracting and inspection of economic activities that are part of the oil, natural gas and biofuels industry.
Free Contracting Environment (ACL) | Energy generated by Eneva’s gas-fired thermo power plants can be sold in the Free Contracting Environment (“ACL”), through bilateral agreements negotiated with free consumers, other generators and trading companies.
Regulated Contracting Environment (ACR) | Energy generated by Eneva’s gas-fired thermo power plants can be sold in the Regulated Contracting Environment (“ACR”), through agreements signed with distributors in energy auctions held by ANEEL – National Electric Energy Agency.
Basin or Sedimentary Basin | A depression in the earth’s crust where sedimentary rocks accumulate, which may or may not contain oil or gas. (Source: Law No. 9,478/1997).
Barrel (bbl) | Standard unit of volume which, in the specific case of oil, is equivalent to 42 US gallons or 158.9873 liters. 1m3≈ 6.28981 bbl. Use tolerated only for measuring oil volume. (Source: English-Portuguese Encyclopedic Dictionary of Geophysics and Geology).
Barrel of Oil Equivalent (BOE) | Unit used by the Oil Industry to quantify and compare the energy relative to volumes of different fuels, where 1bbl of Oil = 1 Boe = 5,800,000 BTU = 1,700 KWh. (Source: ANP Resolution No. 25/2013)
Billion of cubic meters per day (BCM) | Volume measurement unit usually used for natural gas accumulations.
Exploration Block | Subdivision of a sedimentary basin where exploration and production activities for oil and natural gas are carried out.
Electric Energy Trading Chamber (CCEE) | CCEE ensures the conditions for electricity to be traded. The energy auctions, held under the ACR, are organized by CCEE, under delegation from ANEEL, and use the lowest tariff criterion, with the aim of reducing the cost of acquiring energy to be passed on to consumers.
Installed Capacity | The maximum power generation capacity of a power plant or group of power plants.
Open Cycle or Simple Cycle | Method of generating electricity from natural gas, involving the combustion of compressed natural gas mixed with air, generating gases that expand a turbine and produce mechanical energy. This energy is then converted into electrical energy by a generator, while the turbine exhaust gases are released into the atmosphere.
Combined Cycle | A process for generating electricity that combines two technologies: the gas turbine and the steam turbine. In the first stage, natural gas is burned in the gas turbine, generating mechanical energy that drives a generator and produces electricity. The hot gases expelled by the gas turbine are then directed to a boiler, where they recover some of their heat to generate steam. This steam, in turn, drives the steam turbine, which generates more mechanical energy and, consequently, more electricity. By combining the two cycles, the combined cycle can utilize more of the fuel’s energy, resulting in a more efficient process with lower pollutant emissions.
Well Completion | Set of operations carried out after drilling to convert the well into a producing unit for oil, gas, or other fluids. It involves the installation of various equipment, such as pipelines, valves, pumps, and packers, which allow the control of fluid flow from the reservoir to the surface.
Condensate | The liquid fraction of natural gas obtained in the primary field separation process, maintained in the liquid phase at the separation pressure and temperature conditions.
Agreement for Energy and Power Trading in Isolated Systems (CCESI) | Bilateral agreement for the energy sale in isolated systems entered into between the seller and the buyer.
Agreement for Energy Trading in Regulated Environment (CCEAR) | Energy agreement executed between energy generators and distributors, entered into from centralized (new or existing) energy auctions in ACR. CCEARs can be executed in terms of quantity or availability and have a delivery period established in the auction notice. The price is the one set in the auction.
Reserve Capacity Power Agreements (CRCAP) | Auction winners formalize the deal through the Capacity Reserve Agreement (CRCAP) with the Electric Energy Trading Chamber (CCEE).
Marginal Cost of Operation (CMO) | Cost incurred by the system to activate an additional power plant to meet an additional unit of load.
Variable Unit Cost (CVU) | Variable Unit cost (“CVU”) of operating a thermo power plant, which comprises a variable portion (Ccomb – Fuel Cost) and a fixed portion (CO&M – Cost of operation and maintenance).
Dispatch | The process in which a thermal power plant (TPP) is put into operation to generate electricity.
Downstream | Term applied to activities involving the refining of crude oil, processing of natural gas into gasoline in plants, transportation, and commercialization/distribution of derivatives.
Energy Research Agency (EPE) | EPE is a federal state-owned company whose purpose is to provide services in the area of studies and research aimed at subsidizing the planning of the energy sector, such as electricity, oil and natural gas and their derivatives, mineral coal, renewable energy sources and energy efficiency, among others.
Exploration and Production (E&P) | Oil and natural gas exploration and production.
Floating Storage and Regasification Unit (FSRU) | A specialized vessel that stores and regasifies Liquefied Natural Gas (LNG). LNG is stored in special tanks at low temperatures and then converted into gaseous natural gas on board the FSRU itself.
Physical Guarantee | A maximum limit of energy that hydroelectric, thermal power plants, and energy import projects can commercialize. This guarantee is defined by law and ensures the supply of energy for the country, ensuring that demand is reliably met.
Liquefied Natural Gas (LNG) | It is natural gas in a liquid state obtained through a cryogenic process and stored at pressures close to atmospheric.
Distributed Generation (DG) | A model of electricity production characterized by the proximity between generators and consumers. This geographic proximity contrasts with the traditional model of centralized generation, where large power plants generate electricity to be distributed over long distances through transmission lines.
Gigawatt (GW) | Unit of physical magnitude representing a measure of power equivalent to one billion Watts (W).
Gigawatt hour (GWh) | Energy measurement in watt-hours.
Heat rate | Heat Rate is a measure of the efficiency of generators/power plants that convert a fuel into heat and electricity. This rate reflects the amount of energy used by a generator/power plant to generate one kWh of electricity.
Hydrocarbon | Name of chemical compounds formed by carbon and hydrogen. Generally refers to oil or its derivatives. (Source: English-Portuguese Encyclopedic Dictionary of Geophysics and Geology).
Index of Replacement of Reserves (IRR) | The ratio between the volume of reserves incorporated in the year and the total volume produced in the same year.
Lead | Classification in the E&P sector to define a project associated with a potential accumulation that is currently poorly defined and requires further data acquisition and/or assessment to be classified as a Prospect.
Megawatt (MW) | Unit of physical magnitude representing a measure of power equivalent to one million Watts (W).
Megawatt-hora (MWh) | Energy measurement in watt-hours.
Midstream | Referring to the natural gas supply chain that acts as a crucial bridge between natural gas production and its final use. An extensive network of pipelines extends throughout the country, transporting extracted natural gas to processing centers and distribution units. Natural gas is stored in tanks and specialized terminals, ensuring a continuous supply for subsequent stages of the value chain.
Million (MM) | Unit.
Million btu (MMbtu) | A unit of measurement representing one million BTUs (British Thermal Units – is the amount of energy required to raise the temperature of one pound of water by one degree Fahrenheit. It is a common unit for measuring energy consumption in industrial processes, including oil and gas production).
Offshore | Located at sea.
Onshore | Located on land.
National Electric System Operator (ONS) | Entity responsible for coordinating and controlling the operation of energy generation and transmission facilities in the National Interconnected System (SIN) and for planning the operation of the country’s isolated systems, under the supervision and regulation of the National Electric Energy Agency (ANEEL).
Play | Classification in the E&P sector to define a project associated with a potential accumulation that is currently poorly defined and requires further data acquisition and/or assessment to be classified as a Lead or Prospect.
Power Purchase Agreement (PPA) | Power Purchase Agreement
Settlement Price of Differences (PLD) | Calculated by the Electric Energy Trading Chamber (CCEE), PLD is used in CCEE settlement for the treatment of debits, credits and penalties of the agents.
Prospects | Classification in E&P to define a project associated with a potential accumulation that is sufficiently well defined to represent a feasible drilling target.
Rating | Rating is an evaluation tool assigned by an analyst or independent agency to a stock, bond, company, or country. The rating assigned indicates the level of investment opportunity of the stock or bond.
Proved Reserves (1P Reserves) | Reserve estimates of the amount of resources available are made by calculating the volume that can be extracted from reservoirs until it becomes economically unfeasible to maintain exploration. These studies include geological mapping of the area, including technical, economic, regulatory and legal aspects. These estimates are periodically reviewed over the life of the reservoir. Proved reserves are those in which there is a high level of assurance as to the possibility of extracting natural gas, i.e. a minimum probability of 90%, using a probabilistic analysis, that the volume commercially explored will be equal to or higher than that estimated on the basis of the analyses performed.
Proved and probable reserves (2P Reserves) | Sum of proved and probable reserves – these have some level of uncertainty as to the possibility of extracting natural gas. In this case, a minimum probability of 50% is considered, that the commercially explored volume equals or exceeds that estimated from the analyses developed.
Proved, probable and possible reserves(3P Reserves) | Sum of proved, probable and possible reserves – these have a high level of uncertainty as to the possibility of extracting natural gas. These are reserves with a minimum probability of 10% that the commercially explored volume will equal or exceed the estimated volume.
Reservoir | Porous and permeable rocks, capable of accumulating a large amount of water, gas or hydrocarbons. (Source: English-Portuguese encyclopedic dictionary of geophysics and geology).
National Interconnected System (SIN) | SIN encompasses the country’s energy production and transmission system and is divided into four major subsystems – Southeast/Midwest (“SE/CO”), South (“S”), Northeast (“NE”) and North (“N”).
Isolated System (SISOL) | Isolated systems are those outside SIN and are currently located mostly in the Amazon region.
Ton (tons) | Unit of mass measurement used to describe quantities equivalent to 1,000 kilograms.
Upstream | Upstream segment of the oil industry includes the activities of exploration, development, production, and transportation of oil to refineries.
Photovoltaic Solar Plants (UFV) | Facilities that produce energy in direct current by the incidence of sunlight on polycrystalline silicon panels.
Thermo Power Plant (TPP) | Facilities that produce energy using thermal energy obtained by burning fossil fuels such as oil, coal and natural gas, or non-fossil fuels.